Pacific Insight Electronics Starts Fiscal Year with Strong Revenue Growth and Increased Customer Demand

Pacific Insight Reports First Quarter 2016 Results

VANCOUVER, Nov. 12, 2015 /CNW/ - Pacific Insight Electronics Corp. ("Pacific Insight") (TSX: PIH), a world-class electronics and full service solutions provider to the transportation industry, today announced its financial results for the first quarter ended September 30, 2015. All figures are in Canadian dollars unless otherwise stated.

Financial Highlights

In thousands of dollars (except EPS)	3 months ended Sep 30, 2015	3 months ended Jun 30, 2015	3 months ended Mar 31, 2015	3 months ended Dec 31, 2014	3 months ended Sep 30, 2014
Revenues	$30,436	$27,323	$22,911	$16,318	$15,936
Net income (loss) for the period	1,988	1,739	931	-313	88
Earnings (loss) per diluted  share	0.33	0.29	0.15	-0.05	0.01

Revenues for the three months ended September 30, 2015 were $30.4 million, which increased from $15.9 million in the comparative quarter ended September 30, 2014. The increase in revenues was primarily driven by demand for new LED lighting products and systems launched to automotive customers on various vehicle platforms during the last twelve months, and favourable foreign exchange impacts.

Net income for the three months ended September 30, 2015 was $2.0 million or 33¢ per share compared with net income of $0.1 million or 1¢ per share in the prior fiscal year first quarter. The increase in net income compared with the first quarter in the previous year is a result of higher revenues from new program introductions and favourable foreign exchange impacts.

Financial Statements and Management's Discussion & Analysis
This news release should be read in conjunction with Pacific Insight's full financials for the quarter ended September 30, 2015 and related Management's Discussion and Analysis, which can be found on sedar.com.

About Pacific Insight Electronics Corp.
Pacific Insight is a global solutions provider offering design, development, manufacturing and delivery of electronic products and full service solutions to the automotive and commercial vehicle markets. The Company provides OEM as well as Tier 1 and Tier 2 customers with a range of cost competitive products including LED lighting products and systems, electronic control modules and wire harnesses. For more information, visit pacificinsight.com.

The information in this news release was prepared in accordance with International Financial Reporting Standards ("IFRS"). To view the full September 30, 2015 Audited Consolidated Financial Statements and Management's Discussion & Analysis please visit www.sedar.com. Email enquiries may be sent directly to [email protected] or via telephone: [phone]. Pacific Insight is listed on the Toronto Stock Exchange and its trading symbol is PIH.

SOURCE Pacific Insight Electronics Corp.

Image with caption: "Pacific Insight Electronics Corp. (CNW Group/Pacific Insight Electronics Corp.)". Image available at: http://photos.newswire.ca/images/download/20151112_C2781_PHOTO_EN_544158.jpg

Contact Information: Investor Relations, [email protected], 1.800.995.1155